Crown Estate profits halve as Treasury payments slashed
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The Crown Estate witnessed a dramatic decline in its annual profits, with revenue account profit falling 58 per cent to £487million from a record £1.15billion the previous year.Treasury payments were slashed by more than half as a consequence, marking the lowest profit figure since 2023 for the King's property management company.The sharp fall stemmed primarily from two factors: diminished income from offshore wind option fees and the organisation's decision to retain £886million for forthcoming investment projects.This retention figure more than doubled from the £441million set aside in the prior year.
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TRENDING Stories Videos Your Say Operating profits also declined slightly, falling to £1.2billion compared with £1.4billion 12 months earlier, as the windfall from seabed leasing arrangements began to normalise.The proportion of gross revenues kept back for investment surged from 27 per cent to 60 per cent as the organisation prepares to deploy capital once the Treasury completes...
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